Monday, October 20, 2008

OPEC May Cut Production

It sounds like OPEC is getting worried now that the gas price is finally getting down to where people can almost afford it. Now they are talking about cutting production as much as a million barrels per day. But analysts do not think it will make much difference in the short term. I sure hope that it won't raise any gas prices.

It is so nice to see it closer to $3 a gallon than $4 in our area anyway. Friday the price of a barrel of oil dropped below $70. If the USA would just get moving and drilling, we wouldn't have to depend on them at all and could even be selling our own oil to other countries.

They complain it will take 5 years to get it running but they have been saying that for 10 years and we could have had the oil for years by now. If they keep talking and doing nothing, we will never get our own oil. Light a fire under someone that counts and let's get drilling!!

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